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Bioplastics Market Size (2024 - 2029)

The bioplastics market is projected to experience significant growth over the forecast period, driven by increasing environmental concerns and a shift towards sustainable materials. The market's expansion is supported by rising demand in packaging and potential opportunities in the electronics sector. Despite challenges posed by cheaper alternatives, the market is expected to recover from past disruptions caused by the COVID-19 pandemic. Europe is anticipated to maintain its leading position in terms of market share throughout the forecast period.

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Market Size of Bioplastics Industry

Bioplastics Market Summary
Study Period 2019 - 2029
Market Volume (2024) 2.09 Million tons
Market Volume (2029) 4.63 Million tons
CAGR (2024 - 2029) 17.25 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Low

Major Players

Bioplastics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Bioplastics Market Analysis

The Bioplastics Market size is estimated at 2.09 Million tons in 2024, and is expected to reach 4.63 Million tons by 2029, growing at a CAGR of 17.25% during the forecast period (2024-2029).

Due to the COVID-19 outbreak, nationwide lockdowns around the globe disrupted manufacturing activities and supply chains, and production halts impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period.

  • A significant factor driving the market studied is the environmental issues encouraging a paradigm shift to promote bioplastics. Additionally, the growing demand for packaging will likely favor the market's growth.
  • However, the cheaper alternatives availability is likely to hamper the market's growth.
  • Growing use in the electronics industry will likely provide new growth opportunities for the market.
  • Europe accounts for the highest market share and is expected to dominate the market during the forecast period.

Bioplastics Industry Segmentation

Bioplastics are produced from renewable sources, such as corn starch, vegetable fats and oils, woodchips, straw, recycled food waste, sawdust, and other sources. The market is segmented by type, application, and geography. By type, the market is segmented into bio-based biodegradables and bio-based non-biodegradables. By application, the market is segmented into flexible packaging, rigid packaging, automotive and assembly operations, agriculture and horticulture, construction, textiles, electrical and electronics, and other applications. The report also covers the market size and forecast for the bioplastics market in 15 countries across major regions. For each segment, the market sizing and prediction have been made based on volume (kiloton).

Type
Bio-based Biodegradables
Starch-based
Polylactic Acid (PLA)
Polyhydroxy Alkanoates (PHA)
Polyesters (PBS, PBAT, and PCL)
Other Bio-based Biodegradables
Bio-based Non-biodegradables
Bio Polyethylene Terephthalate (PET)
Bio Polyethylene
Bio Polyamides
Bio Polytrimethylene Terephthalate
Other Non-biodegradables
Application
Flexible Packaging
Rigid Packaging
Automotive and Assembly Operations
Agriculture and Horticulture
Construction
Textiles
Electrical and Electronics
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Bioplastics Market Size Summary

The bioplastics market is poised for significant growth, driven by increasing environmental concerns and the shift towards sustainable materials. The market is expected to expand substantially over the forecast period, with Europe leading the charge due to its strong demand from countries like Germany, France, Italy, and the United Kingdom. The growing use of bioplastics in flexible packaging, driven by their biodegradability and non-harmful nature, is a key factor propelling market expansion. The packaging industry, particularly in the Asia-Pacific region, is witnessing substantial growth, further bolstered by consumer awareness and government regulations promoting bioplastic use. Despite the presence of cheaper alternatives posing a challenge, the electronics industry's increasing adoption of bioplastics presents new opportunities for market growth.

The bioplastics market is characterized by its fragmented nature, with key players such as Braskem, Novamont SpA, NatureWorks LLC, Indorama Ventures Public Company Limited, and Total Corbion PLA actively contributing to its development. Recent investments and technological advancements, such as BASF's venture in Sea6 Energy and ABB's automation of NatureWorks' bioplastics plant, are set to enhance production efficiency and meet the rising global demand for sustainable materials. The market's trajectory is supported by the expanding applications of bioplastics in various sectors, including packaging and electronics, which are expected to drive demand and foster innovation in the coming years.

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Bioplastics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Environmental Factors Encouraging a Paradigm Shift

      2. 1.1.2 Growing Demand for Bioplastics in Packaging

    2. 1.2 Restraints

      1. 1.2.1 Availability of Cheaper Alternatives

    3. 1.3 Industry Value Chain

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitutes

      5. 1.4.5 Degree of Competition

    5. 1.5 Patent Analysis

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Type

      1. 2.1.1 Bio-based Biodegradables

        1. 2.1.1.1 Starch-based

        2. 2.1.1.2 Polylactic Acid (PLA)

        3. 2.1.1.3 Polyhydroxy Alkanoates (PHA)

        4. 2.1.1.4 Polyesters (PBS, PBAT, and PCL)

        5. 2.1.1.5 Other Bio-based Biodegradables

      2. 2.1.2 Bio-based Non-biodegradables

        1. 2.1.2.1 Bio Polyethylene Terephthalate (PET)

        2. 2.1.2.2 Bio Polyethylene

        3. 2.1.2.3 Bio Polyamides

        4. 2.1.2.4 Bio Polytrimethylene Terephthalate

        5. 2.1.2.5 Other Non-biodegradables

    2. 2.2 Application

      1. 2.2.1 Flexible Packaging

      2. 2.2.2 Rigid Packaging

      3. 2.2.3 Automotive and Assembly Operations

      4. 2.2.4 Agriculture and Horticulture

      5. 2.2.5 Construction

      6. 2.2.6 Textiles

      7. 2.2.7 Electrical and Electronics

      8. 2.2.8 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Bioplastics Market Size FAQs

The Bioplastics Market size is expected to reach 2.09 million tons in 2024 and grow at a CAGR of 17.25% to reach 4.63 million tons by 2029.

In 2024, the Bioplastics Market size is expected to reach 2.09 million tons.

Bioplastics Market Report Snapshots

Bioplastics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)